MilitiaMan: I have a feeling everyone that is getting the jest that there is money moving, we can see it in the precious metals. Gold and Silver are money. They have been for thousands of years and now there is it talk that they will be even more so sooner than ever, imo..
The articles suggest that they (Iraq) have an urgency to support their local currency. They have regular intense discussions with the IMF.. Lol No kidding. They IMF and WB have stated at least twice there was a need to add currencies to the SDR Basket.. They even gave the reason for it. That reason is in the charts.
They need the value associated with the effects that would or will bring when adjustments are made to global currencies.
The effects will imo be the catalyst they need to fix the international monetary system. (Their words not mine.) Above that, the system may even go through a massive structural change in the way the currencies are backed by assets, silver and gold are exactly that.
Backing them with precious metals will or can support the ability to defend them in the secondary markets..
IMO the charts are screaming there is money movements and that can’t be denied by the recent up trends we can clearly see to have broke out.!
The call to have GOLD in the mix is to suggest that not only will the IQD have a gold component, but, others will need to be on a level playing field as well.
That may start to resonate to those that see currency shortages even in the USA. Why have currency shortage at a time like now, and there wasn’t before? This is an apparent precedent I have not seen in my life time. Why have they not met demand? Or is the supply side cut off for the lack of need for presently coins?
Won’t need the old, lets just get them off the street for something new? We shall see.
But, be sure, this time is not a normal time frame that I have ever seen and with gold tapping world wide highs? One has to sit back and think about the broader picture. I like what I am seeing!! ~ MM
Samson: Central Bank: Launching July salaries before the holiday and in one payment
The Central Bank of Iraq announced the insurance of employee salaries for the month of July.
The central bank stated, “The salaries will be released in one payment before Eid al-Adha.” LINK
LarryH: Got to like that news. Maybe compliance to international standards. Everyone gets paid on the same day. Wow. IMO is that with the New Rate.
Samson: Sistani’s office sets the first days of Eid al-Adha
21st July, 2020
The Office of the Supreme Shiite Authority in Iraq, Ali Sistani, announced that tomorrow (today), Wednesday, will be the first day of the month of Dhu al-Hijjah al-Hijra
The office said in a statement received by Shafaq News, that “tomorrow, Wednesday (7/22/2020), will be the beginning of the month of Dhu al-Hijjah al-Haram for the year 1441 AH
Thus, Friday, July 31, will be the first day of Eid Al-Adha
Saudi Arabia had announced in turn that tomorrow, Wednesday, is the first of the month of Dhu al-Hijjah
Samson: Parliamentary Finance: Control of border crossings will add about $ 10 billion to the treasury annually
14:30 – 21/07/2020
Member of Parliamentary Finance Committee Jamal Kujer confirmed on Tuesday that control of border crossings will add about 10 billion dollars to the state treasury annually.
Cougar said in a statement to “The Information”, that “according to the statement of the head of the Parliamentary Finance Committee, that only 5-9% of the revenue from the border outlets reach the state treasury annually, which is estimated at one billion to one billion and 200 million dollars, and the rest goes to the pockets of the corrupt.”
Cougar added, “The imposition of control over the border outlets will add about $ 10 billion to the state treasury, confirming that the revenue from the outlets is the largest after the revenues from the sale of crude oil, which shows its impact on the Iraqi financial file.”
Cougar pointed out that “huge amounts of money went in the past years to the pockets of the corrupt who seek to hit the national economy.” The border outlets suffer from high levels of corruption, according to many observers and economic experts, and the control of influential circles over them.
Samson: Global site: The number of souls in Iraq reached more than 40 million people in 2020
22nd July, 2020
The American “Worldometer” website revealed, on Wednesday, that the total population of Iraq during the year 2020 reached more than 40 million people
The website on population in the world stated, “The total population of Iraq during the year 2020 amounted to 40,255,989,989, compared to the year 2019 in which it reached 39,309,783
He added, “The growth rate in Iraq reached 2.32%, and the population density represents 92 people per square kilometer”, noting that “Iraq currently constitutes 0.52% of the number of the world’s souls and is ranked 36 among the other countries of the world
He explained, “Iraq ranks fourth in the Arab world in terms of population after each of Egypt, which has a population of 102 million and 402 thousand people, followed by Algeria with 43 million and 878 thousand people, then Sudan with 42 million and 885 thousand people
“Worldometers” is supervised by an international team of developers and researchers with the aim of providing global statistics. The site is owned by “Dadax”, and was voted as one of the best free reference sites by the American Library Association (ALA), the oldest and largest library association in the world
The Ministry of Planning announced, on the twenty-fourth of January of this year, that the population of Iraq exceeded 39 million in 2019, while it indicated that primary school enrollment rates rose to 93% LINK
Samson: America provided more than $ 46 million in aid to Iraq to tackle Corona
22nd July, 2020
The United States embassy in Baghdad announced on Wednesday that its country has provided more than $ 46 million in aid to Iraq to tackle the new Corona virus.
The embassy said in a statement today that the aid includes more than 33.1 million dollars for health and humanitarian aid that helps in the preparation of laboratories, noting the implementation of a public health emergency plan for points of entry.
The statement added the funding includes more than $ 13 million in humanitarian assistance to the MRA Foundation to assist the vulnerable during the epidemic. LINK
Don961: In his meeting with the Iraqi Prime Minister .. Khamenei vows to strike the Americans in response to the killing of Soleimani
– 19 Minutes Ago
Iranian Supreme Leader Ayatollah Ali Khamenei said that his country would deal a blow to America in response to the killing of the prominent commander of the Revolutionary Guards, Qassem Soleimani, adding that his country would not interfere in Baghdad’s relationship with Washington.
Khamenei made his threat in Tuesday’s meeting with Iraqi Prime Minister Mustafa al-Kazemi, according to the official website of the Iranian guide.
Khamenei told the Iraqi Prime Minister – who is visiting Tehran – that his country will not interfere in Baghdad’s relationship with Washington, but he warned that the American presence on the Iranian border is causing security chaos.
Al-Kazemi met Khamenei in Tehran on Tuesday during his first official visit abroad since he took office in May.
Khamenei said that “Iran will not interfere in Iraq’s relations with America, but expects Iraqi friends to know America and realize that its presence in any country causes corruption, destruction and destruction.”
He continued, “The Islamic Republic expects to abide by the decision of the (Iraqi) parliament to expel American forces, as their presence is a reason for insecurity.”
America and Iran
Khamenei indicated that Soleimani was killed in an American air strike by a plane near Baghdad airport at the beginning of the year, after which the Iraqi parliament requested the withdrawal of American forces. “They killed your guest in your house and rudely admitted that,” he said.
He added that Iran “will never forget this and will certainly strike a retaliatory blow to the Americans.”
Tehran responded to the killing of Soleimani by launching ballistic missiles at bases used by American forces in Iraq, knowing that Trump refused to respond militarily to this strike.
The missile attack targeting the al-Asad base in western Iraq did not result in deaths among US forces, but it wounded soldiers with brain tremors.
Khamenei said that Iran opposes “what weakens the Iraqi government,” contrary to Washington, which he said does not want “an independent and strong Iraqi government elected by popular vote.”
Source: Agencies link
Samson: International Monetary: The dollar’s dominance in trade and finance is a threat to the global economy
13:25 – 07/22/2020
The study added that strengthening the dollar’s strength will exacerbate the decline in global trade and economic activity in the short term. In addition, developing countries are unlikely to be able to benefit from the weakness of their national currencies to stimulate the economy, as export prices are set in dollars. The weakness of the currencies of other countries against the dollar leads to higher prices for imported goods, and hence lower demand for them.
Earlier, experts said the United States could pull the whole world down, because ineffective resistance to the epidemic is slowing the global recovery. Many countries depend on the United States, the country with a share of about a quarter of global GDP. But some analysts believe that during the crisis the dollar began to lose value, the euro strengthened and began to turn into a new “safe haven” for investors.
Stephen Roach, the former president of Morgan Stanley Asia, said that the dollar will collapse amid a growing deficit in the US budget and globalization abolition. LINK
Bravo13: IMO the tide is falling away from the US dollar as the stable world currency, many countries would like nothing better than to see us fall, this is why americans need to buy american made products and support patriotic american companies. This is a whole other subject and a scary one that should be paid attention to. I just hope the IQD revalues and america can pay down some of it”s debt before the Poop hits the fan. Pray DT wins in november or our country is going to be in serious trouble. ALL IMO
Don961: Minister of Finance: 300 thousand “space” employees in Iraq
Yesterday at 09:17 Rudaw Digital
The Iraqi Finance Minister, Ali Allawi, reported that there are about 300,000 “space” employees in Iraq, warning that economic problems may spark a state of insecurity in the country.
And the Financial Times quoted Allawi as saying that radical reform is the only way to avoid a “catastrophe” for the oil-dependent country, noting that all that can be done is to refer to the “catastrophe” facing the country, if the path continues.
Allawi has previously studied at Harvard University, and has taught at the Massachusetts Institute of Technology (MIT).
The Iraqi Minister of Finance, warned of “grave security consequences” in the event that the country’s economy is not radically restructured, at a time when the crisis of the Corona Virus is struck, and its reflection on commercial activities and the damage of the collapse of oil prices to state revenues, indicating inflation spending and a monthly wage bill The value of $ 5 billion for the massive public payroll.
Concerning “space” employees, that is, those who do not exist in the state’s departments, while these influential people receive salaries, Allawi explained that the issues that were buried because of the large and growing oil revenues are now evolving, and this includes payments for an estimated 300,000 “ghost” or fictional employee ” “.
The price of crude oil has fallen to more than half compared to last year 2019, as it dealt a blow to the financial position of the second largest producer in OPEC, “Iraq”.
Allawi believed that the economy, if not radically restructured in a highly coherent and well-implemented medium-term program, could have truly severe security consequences.
According to the Oxford Institute for Energy Studies, Iraq’s revenue from oil exports fell from 6.1 billion dollars in January, to their lowest levels at 1.4 billion dollars last April.
While the collapse of world oil prices has harmed the Iraqi economy before, Allawi says that Baghdad “can no longer” rely on prices to bounce again, arguing that this may spur reforms, confirming that there is an “increased recognition” that the country is moving to an environment with prices Oil is relatively low, and an alternative to restructuring public financial resources should be found to take into account this new normal.
The 73-year-old minister is part of a transitional government appointed to steer Iraq toward new elections, after mass protests against the institution toppled the previous government.
The country’s poverty rate is expected to rise to 31.7 percent this year, from 20 percent in 2018, as the Corona pandemic crisis pushes 4.5 million Iraqis below the poverty line, according to a new joint assessment by the government, the United Nations, the World Bank, and Oxford University.
According to the World Bank, if oil prices remain below $ 30, Iraq will shift from a fiscal surplus to a deficit equal to more than a quarter of its gross domestic product.
Analysts said the government can take advantage of $ 68 billion in foreign reserves to cover dollar bills, such as imports and debt service, and is expected to borrow $ 18 billion locally and abroad to cover government wages for the next few months.
On the subject of the loan, Allawi said that Iraq has regular and intense discussions with the International Monetary Fund, adding that Baghdad may apply for some budget support, describing the bill of “inflated wages” is to some extent a “legacy of Iraq’s recent violent history”, and that 40 To 45 percent of public sector employees in the vast Iraqi security forces. LI